The Nagpur District Central Cooperative Bank (NDCCB) scam of Rs 125 crore government bond purchase is set to receive the long-awaited verdict on December 18. Additional Chief Judicial Magistrate Judge Jyoti Pekhale-Purkar conducted a hearing on Tuesday and fixed the date of verdict. It may be mentioned here that the final hearing for the case concluded on November 21. The initial announcement of the verdict was scheduled for November 28. However, the court, during Tuesday’s session, noted the absence of one accused person which led to a delay in the proceedings. As a result, the decision was deferred to 1.30 pm and decided on December 18 as the new verdict date.

 

Former chairman of NDCCB and former Minister MLA Sunil Kedar, who held office during the period of the alleged scam in 2001-2002, is at the center of the controversy. The accusations are the purchase of government bonds from various companies, including Home Trade Limited Mumbai, using bank funds. It is alleged that these companies failed to repay the bonds which caused substantial financial loss to the bank.